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Rich Gen-Y Asian kids pool family fortunes to build venture fund

Bloomberg Published on Mon, Mar 06, 2017 / 1:37 PM GMT+8

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SINGAPORE (Mar 6): One of Rachel Lau’s strongest childhood memories is the smell of newspaper. Her father, driving her to school each day in Kuala Lumpur, would make his sleepy daughter open the paper, go through stock quotes and do mental math.

“He would be, like, ‘How did KLK do today? OK, if it’s up 4 sen (1.3 cents) and I’ve got 89,000 shares, how much did I make?’’’ Lau recalled.

The daily ritual continued through her teenage years. Her father Lau Boon Ann built his fortune in real estate and by investing in companies like Top Glove, which became the world’s biggest rubber-glove maker.